Odaily星球日报讯 灰度研究主管 Zach Pandl 表示，关税对加密货币的负面影响可能已被市场“计价”，最糟糕的阶段或已过去。他认为，若 4 月 2 日特朗普宣布的关税政策强硬但分阶段实施，并集中于 15 个目标国家，市场或将迎来反弹，届时加密市场也可能重新聚焦积极的基本面。此外，Pandl 还指出，关税将增强市场对非美元资产的兴趣，利好包括比特币在内的替代货币资产。（CoinDesk）

Odaily星球日报讯 灰度研究主管 Zach Pandl 表示，关税对加密货币的负面影响可能已被市场“计价”，最糟糕的阶段或已过去。他认为，若 4 月 2 日特朗普宣布的关税政策强硬但分阶段实施，并集中于 15 个目标国家，市场或将迎来反弹，届时加密市场也可能重新聚焦积极的基本面。此外，Pandl 还指出，关税将增强市场对非美元资产的兴趣，利好包括比特币在内的替代货币资产。（CoinDesk）

灰度高管：关税影响或已计入，加密市场或将重回基本面

<Odaily> Planet Daily News: Grayscale Research Director Zach Pandl stated that the negative impact of tariffs on cryptocurrencies may have already been "priced in" by the market, and the worst phase might have passed. He believes that if the tariff policy announced by Trump on April 2nd is tough but implemented in stages and focused on 15 target countries, the market may see a rebound, at which point the crypto market might refocus on positive fundamentals. Additionally, Pandl pointed out that tariffs will enhance market interest in non-dollar assets, which is beneficial for alternative currency assets, including Bitcoin. (CoinDesk)

Grayscale executives: Tariff impact may have been factored in, crypto market may return to fundamentals

<Odaily>Odaily Planet News: QCP stated in its official channel that Bitcoin (BTC), Ethereum (ETH), and the S&P 500 Index have just recorded their worst quarterly performance in three years. Over $160 billion in crypto market value has been wiped out since last Friday, with the market still searching for bullish momentum. 

The significant pullback last Friday was due to massive expiration at the end of the quarter, with traders selling heavily at mid-prices, causing excess funds to shift from neutral to negative. During the crypto deleveraging, macroeconomic data delivered another blow: core inflation data exceeded expectations, confirming inflation strengthening in February, despite consumer spending remaining sluggish. The market is now nervously turning to the next potential catalyst - Trump's tariff policy on April 2nd.

Volatility indicators paint a mixed picture, with the Volatility Index (VIX) remaining high at 22, reflecting continued market unease. In contrast, crypto trading volumes withstood the selloff, continuing to trend lower despite similar declines and Friday's massive selloff. Platform data suggests trading activity is skewed towards bullish Asian market opening. Buyers are holding upper risk exposure (strike prices between $85,000 and $90,000) and selling downside risk (strike price at $75,000), which may be a bet on crypto's bullish outlook for the second quarter.

QCP: Markets focus on the direction of US tariff policy tomorrow, trading activity tends to be bullish in Asia opening

By: Luke, Mars Finance
At the end of March 2025, the global financial markets experienced a severe turbulence. The U.S. stock market encountered a "Black Friday" on March 28, with the S&P 500 index dropping 1.97%, the Nasdaq index plummeting 2.7%, and the Dow Jones Industrial Average falling 715 points, a decline of 1.69%. This downturn quickly spread to the cryptocurrency market, with <BTC> falling from $84,000 in the afternoon of March 29 to $81,565 in the early morning of March 31, and <ETH>...

The crypto market collapsed again. Why was Q1 2025 so tragic?

Changes in the United States' digital asset policies seem to have enhanced institutional confidence in the industry, leading to increased mergers and acquisitions, stablecoin and asset tokenization investments, and other strategic investments in March.

Although cryptocurrency valuations slightly declined during the month and remain low year-to-date, the industry's fundamentals have improved. Despite cryptocurrencies being a unique alternative asset class, their valuations are still influenced by changes in macroeconomic prospects and fluctuations in investor risk appetite.

The prospects for tariffs and other government policies remain uncertain. However, the weaker economic outlook has been partially priced in by the market, and we anticipate that...